Construction materials company and lime producer Adbri has reported a net profit after tax of $93.7 million for the 2020 calendar year – almost double its 2019 profit.
Adbri’s manufacturing facility at Birkenhead. Picture: Don Brice/ adbri.com.au
And the Adelaide-based company is confident that government stimulus measures such as the HomeBuilder grant and the fast-tracking of major infrastructure projects will drive demand for construction materials through 2021.
The company, which changed its name from Adelaide Brighton last year, recorded the profit boost despite a 4.1 per cent decrease in revenue to $1.454 billion. It said the revenue slump was…